What are CFO Strategy Services and Why Do You Need Them?
- Jenny Marie
- Mar 10
- 4 min read
Updated: Apr 16
"CFO" stands for Chief Financial Officer and "strategy" means a plan of action or policy designed to achieve a major or overall goal. I will describe in full detail what these services are and why they are vital to growing a small business.
Chief:
a person holding a position of high responsibility and authority
Financial:
relating to money
Officer:
an executive position which is responsible for overseeing and making decisions about a particular area—in this case, financial matters.
CFO Strategy Services
In larger companies and corporations, a Chief Financial Officer (CFO) typically works full-time due to the extensive scope and scale of the business. In contrast, smaller businesses may opt for a part-time or limited-time CFO, often referred to as a "Fractional CFO," which is a more cost-effective solution since they do not require a full-time CFO. However, we tend to avoid using the term "Fractional CFO" as it might be unclear to some individuals, potentially evoking confusion due to its association with mathematical fractions. Many business owners are often too focused on sales and production to handle the responsibilities of a CFO, which are vital to the success of business, and they most likely lack the specialized expertise needed for these tasks.
Many business owners are often too focused on sales and production to handle the responsibilities of a CFO
CFO Strategy Services are designed to help you make money, save money and increase profit. Each month, we dig into your numbers, flag any red alerts, and report on them to the owner via email or consulting call. We monitor your debt, providing updates on where you stand and work with you to reduce it. We track your business goals (and personal if desired) to hold you accountable and to help identify steps needed to achieve them by target dates. We assess cash flow, identify ways to increase profitability, and can track key performance indicators specific to your business. When it’s time to make big decisions—like hiring, expanding, or investing—we help you run the numbers so you can move forward with confidence. Every quarter, we re-calculate your averages and reassess your budget so you know exactly what your sales targets need to be.
We either combine this service with our bookkeeping or double-check the work of your bookkeeper to make sure the books are accurate before creating strategies, making decisions and sending off to your Certified Public Accountant (CPA) for tax time. We also coordinate with your tax pro so your strategy aligns with tax planning and there are no surprises later.
CFO Strategy Services are designed to help you make money, save money and increase profit.
Our CFO Strategy Services:
Monthly Financial Review
Debt Monitoring & Reduction
Goal Tracking & Accountability
Cash Flow Planning + Forecasting
Profit Boosting Strategies
KPI Tracking
Decision Support
Quarterly Budget Assessments
Bookkeeping Quality Control
CPA Coordination
Monthly Financial Review:
We review your numbers every month to spot red flags, trends, or issues. You’ll get a quick summary by email or we’ll talk it through on a consulting call.
Debt Monitoring & Reduction:
We keep tabs on your debt, show you where you stand, and help you create a plan to reduce or eliminate it over time.
Goal Tracking & Accountability:
We identify your business and personal goals together at the beginning of the year. Quarterly we will check in on the progress you are making and help you create solutions to any barriers that arise.
Cash Flow Planning & Forecasting:
Cash flow is how money is going in and out of your business. We assess the trends we see, help you plan for changes in income and expenses, and project future cash needs and sales targets to be profitable.
Profit Boosting Strategies
We find ways to increase profit by cutting waste, adjusting pricing, or making your operations more efficient.
KPI Tracking
A KPI, or Key Performance Indicator, is a number that shows how well a specific part of your business is doing. Think of KPIs as the key numbers you should be watching regularly to know if your business is healthy and growing. Examples: Monthly Income, Net Profit, New Sales, Debt Paid Off. These can could be customized into longer reports - we just have to add it into the estimated fees.
Decision Support
We help you make smart, confident decisions—big or small. Whether it’s hiring, investing, changing pricing, or just figuring out what to do next, we’ll walk through the numbers and options with you. This can happen during regular weekly or monthly calls (add-on) so you’re never stuck trying to figure it out alone.
Quarterly Budget Assessments
Each quarter, we update your averages, check your budget, and reset your sales targets based on what’s actually happening in your business.
Bookkeeping Quality Control
We either handle your books as a combo package with this service or we review your bookkeeper’s work to make sure the numbers are accurate before any strategy or tax decisions are made.
CPA Coordination
We communicate with your tax pro to make sure everything lines up for tax season—so you’re not scrambling or surprised later.
We find ways to increase profit by cutting waste, adjusting pricing, or making your operations more efficient.
FINAL THOUGHTS
These services are intended to help the business grow, streamline operations, and simplify complex financial situations. Although we offer this service as either an add-on to our bookkeeping services or by itself, we can also combine it with our Efficiency Consulting as a one-time project to ensure the business is set up correctly to eliminate wasteful expenses and actions.
The service effectively covers its own cost as we consistently identify wasted funds, unnecessary actions, and methods to increase or collect income more efficiently.
Let us know if this blog helped. If you would like a Free Consult and estimate on this service, CONTACT US!
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